Veritix(TM) Tops 2 Million Mark as Its Patented Flash Seats(R) Gains Popularity with Fans, Boosts Team and Venue Revenue

Jan 11, 2010, 09:00 ET from Veritix

CLEVELAND, Jan. 11 /PRNewswire/ -- Veritix(TM), the state of the art digital ticketing, event marketing and relationship management technology company, said today it has processed 2 million paperless tickets since its launch. In addition, it has facilitated the transfer of more than 800,000 tickets.

Electronic ticketing has generated over $500,000 in new revenue for Veritix NBA clients, generated from secondary ticket market fees in just the first two months of the season. Veritix is the ticketing industry's only company providing a patented integrated electronic ticket marketplace allowing for the safe and secure transfer and resale of tickets in a team, artist or venue-branded marketplace. The company's patented Flash Seats® technology has several unique advantages, providing:

  • fans the only secure online method for transferring or reselling tickets;
  • invaluable marketing information used by the teams, venues or artists to extend and enhance the lifeline to their fans;
  • additional revenue opportunities for teams, venues or artists by enabling secondary ticket sales on their own branded Web sites;
  • the ticketing industry's most convenient paperless entry system, as all ticket holders in a group do not have to enter a venue at the same time.

Veritix is providing full digital ticketing services to major venues across the U.S., including Quicken Loans Arena (Cleveland), Toyota Center (Houston), Energy Solutions Arena (Salt Lake City), Pepsi Center (Denver), Dick's Sporting Good Park (Denver), and Paramount Theatre (Denver); four National Basketball Association teams, including the Houston Rockets, Denver Nuggets, Utah Jazz and Cleveland Cavaliers; the National Hockey League's Colorado Avalanche; the American Hockey League's Lake Erie Monsters and Houston Aeros and Major League Soccer's Real Salt Lake and Colorado Rapids.

In the first two months of the National Basketball Association season, Veritix has helped the Cleveland Cavaliers sell more than $2 million in paperless tickets on the secondary market.

"Veritix digital ticketing technology has been a significant asset for us this year," said Cavaliers and Quicken Loans Arena President Len Komoroski. "Fans are first with us and with Veritix and Flash Seats we've been able to provide a greater convenience for our fans and help strengthen our relationships with them, while also driving additional revenue from the secondary ticket market. As paperless ticketing and marketing intelligence become critical to realizing our full business potential, we're more and more excited about the important role Veritix and Flash Seats play in all of our sales and marketing efforts."

Veritix Digital Ticketing - which is enabled by the exclusive Flash Seats® technology - grants ticket buyers the unique opportunity to eliminate traditional hard tickets, and select a convenient form of ID that they already carry with them, such as a driver's license or credit card, as their method of entry to a given event. Those same customers can then manage their tickets electronically - either online, or with the help of a trained Veritix call center agent - enabling secure and instantaneous ticket re-sales and transfers. As a result, teams, artists and venues have visibility into every stage of the ticket lifecycle.

"Veritix digital ticketing is proving to be an excellent source of additional revenue for sports teams, artists and entertainment venues," said Jeff Kline, president of Veritix. "The challenging economy is forcing sports and entertainment organizations to come up with innovative solutions to generate revenue, improve the customer experience and enhance marketing programs. Our experience with a variety of sports and entertainment organizations is proving Veritix to be a hit in all these areas."

A key advantage provided by Veritix is the ability for artists, teams and venues to create secondary ticket marketplaces on their own Websites, allowing them to capture additional revenue by enabling the convenient resale or transfer of tickets for their fans. By creating and managing their own secondary ticket markets, teams, artists and venues are able to track who ultimately uses the tickets, helping them develop marketing and sales opportunities in the future.

About Veritix

Veritix provides the most dynamic digital ticketing, event marketing, and relationship management applications to artists, professional sports teams, Universities, arts organizations, and entertainment venues. Veritix's Flash Seats® digital ticketing technology has revolutionized the sports and live entertainment industry by enabling paperless venue access while allowing artists, team owners, and venue operators to regain control of their secondary market. The Veritix ticket and event marketing solutions offer clients and partners an integrated primary and secondary ticketing platform to manage their entire ticket inventory, and create rich behavioral profiles on past and potential ticket buyers.

SOURCE Veritix